30th Aug 2005 07:00
Weatherly International PLC30 August 2005 For immediate release 30 August 2005 Weatherly International plc ("Weatherly" or the "Company") Directors' and other party interests Further to the announcement made on 25 August 2005, the Company has madeapplication to the London Stock Exchange for 23.5 million new ordinary shares tobe admitted to trading. Dealings are expected to commence in the new ordinaryshares on 2 September 2005. Following the placing of ordinary shares at 6p per ordinary share, the Companyhas been notified of the following interests in the ordinary shares. Party Holding of Ordinary Holding of Percentage of Shares before the Ordinary Shares issued share Placing after the Placing capital Wolf Martinick 13,554,790 14,284,790 19.43%RAB Capital plc - 15,000,000 20.41% The above information has been disclosed in accordance with section 324 (asextended by section 328 of the Companies Act 1985) For further information, please contact: Peter RedmondWeatherly International plc 020 7332 2200 Allan PiperFirst City Financial Public Relations 07736 064 982 Editor's Notes Weatherly, a former financial services group was rescued through a creditorsvoluntary arrangement (CVA) which raised £250,000 in January 2004. In July 2005,there was a further cash injection of £723,500 and a change in strategy withappointments of Dr. Wolf Martinick and Rod Webster as executive directors. TheCompany is seeking to acquire, or invest, in opportunities in the naturalresources sector, particularly in Africa. Dr. Wolf Martinick, 60, is a director of Sun Resources Ltd, an oil and gasexploration company listed on the Australian Stock Exchange ("ASX"), chairman ofEzenet Limited, an ASX-listed movie distribution company, and a founder-directorof Basin Minerals Ltd, an ASX company with a world-class mineral project inVictoria, Australia. Mr Webster, 54, has over 28 years of experience in the resources industry,including more than 10 years in managing director or chief executive posts. Hismost recent positions have been as a senior executive to First Quantum Minerals("FQM"), a Canadian and AIM listed company, developing and operating coppermines in Zambia, the Democratic Republic of Congo and Mauritania. Most recently,he was in charge of the company's Mauritanian activities, but prior to this hewas the Chief Executive Officer responsible for the development of the Kansanshimine in Zambia, probably the world's most significant new copper mine to come onstream in recent times. He was also non-executive director of another majorZambian copper producer, Mopani Copper Mines Ltd, in which FQM had a majorinterest. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Weatherly International Plc